2021
DOI: 10.3390/pr9081468
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Investigating the Impact of Economic Uncertainty on Optimal Sizing of Grid-Independent Hybrid Renewable Energy Systems

Abstract: One of the many barriers to decarbonization and decentralization of the energy sector in developing countries is the economic uncertainty. As such, this study scrutinizes economics of three grid-independent hybrid renewable-based systems proposed to co-generate electricity and heat for a small-scale load. Accordingly, the under-study systems are simulated and optimized with the aid of HOMER Pro software. Here, a 20-year average value of discount and inflation rates is deemed a benchmark case. The techno-econom… Show more

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Cited by 60 publications
(28 citation statements)
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“…Therefore, the consumers should be encouraged to learn about the demand flexibility in their use of electricity and how to benefit from this flexibility. This might be especially relevant for the customers with inertial processes (such as cleaning, washing, or cooking dinners) independent of the time of the day and the peaks in electricity consumption who can easily shift their periods of high consumption to the periods of low electricity cost without disrupting their daily routines and reaching continuous optimization [81][82][83].…”
Section: Impacts Of Digital Technologies On Energy Consumptionmentioning
confidence: 99%
“…Therefore, the consumers should be encouraged to learn about the demand flexibility in their use of electricity and how to benefit from this flexibility. This might be especially relevant for the customers with inertial processes (such as cleaning, washing, or cooking dinners) independent of the time of the day and the peaks in electricity consumption who can easily shift their periods of high consumption to the periods of low electricity cost without disrupting their daily routines and reaching continuous optimization [81][82][83].…”
Section: Impacts Of Digital Technologies On Energy Consumptionmentioning
confidence: 99%
“…Overall reaction: A single PEM fuel cell voltage V FC is the sum of four terms: the no-load voltage E Ner , the activation overvoltage V act (or activation drop), the ohmic overvoltage V ohm (or ohmic drop) and the overvoltage concentration V con (or drop in concentration), which are defined by the following expression [28]:…”
Section: Pem Fuel Cell Modelingmentioning
confidence: 99%
“…It is vital to provide a precise analysis of the noteworthy impacts of the random variables on the power grid performance [46][47][48][49][50]. This part tries to represent the modeling of the uncertainty impacts related to the renewable resource and loads with the use of the UT method.…”
Section: Uncertainty Modelingmentioning
confidence: 99%